Hey guys, I apologize if this has been asked before - I tried searching and did not get any hits so thought I would ask this myself. My strategy (luckily successful) for Levels 1 and 2 were to read Schweser as my base study guide and then do CFAI EOC questions. I have done the same for L3 prep so far. I am in my final chapter now - GIPS - should I do the same thing? Can I trust Schweser? Or would you guys suggest reading from CFAI? I appreciate your help greatly! Good luck to all your AF members…
GIPS, CFAI all the way. I have read both, but you get a lot more clarity from the way CFAI has explained them and thats how they will test them. At the end of the day it is all about memorization anyway.
Thanks, considering you have read both and noticed CFAI to be better, I will do that as well. Anybody else think differently? I think this is the general consensus.
General consensus is that everyone hates GIPS! I studied in CFAI books and use the pack of schweser for time to time refresher. Off-topic but I wonder how this might be valuable…Is there a certification for company which pefrom gips-compliance audit?
The more commentary/explanation I read about GIPS, the more confused I become. I would go with CFAI - or, better yet, start with reading through the source document itself - http://www.gipsstandards.org/standards/current/2010_edition_gips.html
Yeah, audit firms do GIPS compliance audits. Too bad I work for one and haven’t worked on a GIPS audit! Could have been so useful!
Schweser >>>> CFAI. CFAI’s “hide and seek” approach to putting down all the standards is mind numbing. They don’t even put them in order.
I would hope the questions are MC format, and not essay type.
I dont know but i read Schweser. 2 times. and read All CFAI examples. (with blue colored) I read with immagination thinking the situation the content trying to tell. I think what matters is how much the candidates understand the points. whether it is Schweser or CFAI. And i am ready to read CFAI more easily now. with more understanding. But it is difficult to say what is better . it depends on the condition. for example if you choose Schweser, then have to do all the question and examples for the clear understanding
Personally, I just downloaded the actual GIPS Standards and read those. Not messing about with either CFAI or Schweser for this one.
I ended up doing CFAI. Still blows. Especially all the goddamn dates. I mean, really?